With an abrasive personality and an eccentric attitude Richard Heart (RH) is not the favourite child of crypto.
However, he has a rather large following of enthusiastic people. Many of whom he made millionaires through the crypto token he created: $HEX (up 429031.2% in 2 years give or take).
I’ve been watching him and he is smart, very smart in my opinion. Don’t short geniuses comes to mind when hearing how he talks about and designs crypto products.
From him I learned a lot about weird AMM quirks, bridges, economics, sociology etc. He also has a self help book out on telegram. I do like his message and believe he is a straight up guy. He pushes hard to win and is in it for the glory (his words).
What else is there to do for a man that has everything, but building his own empire and uplifting his community?
Find his all his socials here.
RH’s Crypto Ecosystem
With my personal bias out of the way, here’s an overview of the crypto ecosystem around him (I’ll get into detail on all of them):
Hex (“certificate of deposit”)
PulseChain (ETH clone with system state - all tokens and balances!)
PulseX (Uniswap Fork with immense liquidity on the PulseChain)
The named links take you to the Telegram channels so you can snoop in on them. There’s 30k+ people in each one of them.
The community is filled with helpful and enthusiastic people (still, beware of scammers).
Hex
Hex is a crazy token, has a beautiful contract, no admin keys and is full of game mechanics that need to be dug out and understood. I will do a longer post on it for sure.
Now for some basics…
The certificate of deposit mechanics for Hex are 1) the increased yield if you stake longer and 2) the penalties for ending the stake sooner than promised.
Staking in HEX = full lock up of coins for a period of your own determination. Ending a stake prematurely incurs severe penalties. The penalties are distributed to the users of the token.
The not so obvious mechanic with Hex is that the lock-ups are forcing a price move up through the T-Share mechanism.
Example: Let’s say I have 1000 Hex, I can lock up (stake) 500 for example.
The 500 Hex I staked will get burned through the contract and I will be accounted a number of shares (T share = trillion shares), let’s say 5T-Shares (this changes based on some game rules). Those shares promise to pay me out my principle (500 Hex) and a yield (~40%APY).
The yield is dependent on size of the staked sum and duration and is payed from the inflation of the system (~3.59%). If more people stake, the yield will approach the rate of inflation.
HEX has doubled multiple times since it’s inception and does not really show any sign of slowing down.
Also, it seems to be decorrelated to the rest of the market.
Check the interview with Kevin here where they discuss some “red flags” of Hex.
Starting out with Hex: hexnoob.com
PulseChain
(PulseChain will be launched in 2022, do not buy weird tokens and do not get scammed!)
(DO NOT SACRIFICE FOR PULSE ANYMORE!)
2022 the year of ETH Killers? Well, PulseChain is a contender. One of the most serious IMO.
What is PulseChain?
A more Centralized, Faster, Cheaper ETH2.0 with all your coins. That’s the 9 word way to describe it.
ETH becomes PLS (native token)
Proof of Stake with very low fees
All ETH system state gets copied (snapshot date to be announced)
Bridge to Ethereum on launch
Why ETH Killer?
There is a good chance ETH2.0 continues to get delayed (software is software and never on time).
If PLS can pull it off and launch multiple months before ETH2.0 it has a good chance to suck many users/talent/economic value out of ETH (possibly also SOL and AVAX?).
Old money is already in PLS (due to ETH snapshot) and cheap money will be attracted by the low fees. Also, when checking out the sacrifice leaderboard, you can see early ETH investors in the list (check this video for more info on that).
You will already have some PLS (former ETH) so you will be able to make trades and test it out when it launches (just change the parameters in MetaMask).
Why use ETH when you can do NFTs, liquidity farming etc on Pulse with all the infrastructure and coins in place?
Gaming on PulseChain
Especially Blockchain Based games have a huge advantage regarding microtransactions on PulseChain (fees ~ 0.0001 PLS which might be equivalent to a fraction of a cent per transaction). NFTs and gaming could see a big boom in 2022 and all the infrastructure will already be on PulseChain because of the 1:1 fork.
I think PulseChain is backed by geniuses. However, as it is not released yet we’d have to bank on the devs and RH to launch and work as advertised.
Note: All USD prices are speculative as the PulseChain tokens have no price (essentially 0) and they will go through a price discovery.
The floor for PLS is probably 10^-4 USD (1 USD = 10.000PLS)
Read more: https://pulsechain.com/
PulseX
PulseX is Uniswap v2 with some tweaks.
It will launch on the PulseChain, but you can get an airdrop by sacrificing some tokens in the currently open Sacrifice Phase.
Key differences to Uniswap:
Most liquidity (due to token imbalances, most tokens from Uni, Sushi will be harvested and moved into PulseX)
Switch for fee/burn redistribution is enabled
About the fees, from the website: PulseX will have a 0.29% fee that users pay on every swap. That is less than Sushiswap, Trader Joes, Quickswap and Uniswap. 76% of all trading fees could be distributed to Liquidity Providers. 21% could be used to buy and burn PLSX, reducing its supply over time. 0.01% of a trade's value goes to an address you must have no expectations of.
PulseX Sacrifice is open!
Read more: https://pulsex.com/
Here is a post detailing PulseX game mechanics, what the sacrifice mechanic is and how to sacrifice.
End of the Overview
I will go into detail with separate posts about the game mechanics of all the above mentioned crypto currencies.
First one will probably be PulseX as the sacrifice is currently open and it has only a short time frame.
Note: In RH’s crypto ecosystem there is lots of talk about the OA (Origin Address) and other addresses (such as the 0.01% PulseX destination address) that you should have no expectations of. I would argue that these are similar to “dev team” addresses or “founder addresses”. I’m telling you this for full transparency. I’d rather have RH or Elon control their ventures that someone else (or even DAOs for that matter).
Greetings from the High Tower 🌴🏯🌴
Your BTG
This is not financial advice, provided purely for entertainment.